Home Owners Insurance - 40 percent increase

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oaks
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Home Owners Insurance - 40 percent increase

Post by oaks » Thu Apr 11, 2019 4:38 pm

I just received my renewal for home owners insurance.
40% greater than last year. :oops:

I checked out Amica which is 25 percent less than this renewal.

I did have a claim in 2018 which Amica knows about so I believe there is more to the 40 percent than just trying to recoup the claim payout.

I did some more quotes and Geico, who my vehicle insurance is with, quoted 50 percent less than renewal using a company named Home Site.

I am comparing apples to apples for coverage and deductible.

Why such wild differences?

Usaa is around 2300
Amica is around 1700
Home Site via Geico is 1100

I am nervous that Home Site, whom I have never heard of is so low.

I had a claim, sure, but now it looks like they are trying to aggressively try to get the funds back by not being competitive on premium. Usaa handled the claim exceptionally well with no hassles or haggling. I suspect I can get that same level of service from Amica. Home Site may be a gamble.

What do you think fellow Bogleheads?

hayhayday
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Re: Home Owners Insurance - 40 percent increase

Post by hayhayday » Thu Apr 11, 2019 4:56 pm

Amica and Usaa are top rated and would go with whichever is cheaper. Homesite is lower\ bottom tier and cheap for a reason but possibly a better value if you are ok saving now knowing you may have to fight harder if you have a claim

orlandoman
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Re: Home Owners Insurance - 40 percent increase

Post by orlandoman » Thu Apr 11, 2019 5:01 pm

https://www.valuepenguin.com/homesite-insurance-review

Also, when looking at individual claim reviews online, keep in mind that people are always more willing to complain (justified or not) than praise.
"Don't Believe Everything You Think"

sk.dolcevita
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Re: Home Owners Insurance - 40 percent increase

Post by sk.dolcevita » Thu Apr 11, 2019 5:32 pm

Homesite increased my HO policy premium by nearly 50% for no reason. I switched to esurance (online arm of Allstate) and saved $450+. And got higher coverage to boot.

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dwickenh
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Re: Home Owners Insurance - 40 percent increase

Post by dwickenh » Thu Apr 11, 2019 5:38 pm

sk.dolcevita wrote:
Thu Apr 11, 2019 5:32 pm
Homesite increased my HO policy premium by nearly 50% for no reason. I switched to esurance (online arm of Allstate) and saved $450+. And got higher coverage to boot.
+1 on esurance, went to them 2 years ago. They did attempt to raise my Home owners by 8%, but I adjusted coverage to compensate for the increase and kept the same premium. Auto side has actually slightly decreased in 2 years. I do not have any claims in the past 10 years and don't plan on any with a 2500 ded home owners and 1000 ded auto.
The market is the most efficient mechanism anywhere in the world for transferring wealth from impatient people to patient people.” | — Warren Buffett

sk.dolcevita
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Re: Home Owners Insurance - 40 percent increase

Post by sk.dolcevita » Thu Apr 11, 2019 6:03 pm

dwickenh wrote:
Thu Apr 11, 2019 5:38 pm
sk.dolcevita wrote:
Thu Apr 11, 2019 5:32 pm
Homesite increased my HO policy premium by nearly 50% for no reason. I switched to esurance (online arm of Allstate) and saved $450+. And got higher coverage to boot.
+1 on esurance, went to them 2 years ago. They did attempt to raise my Home owners by 8%, but I adjusted coverage to compensate for the increase and kept the same premium. Auto side has actually slightly decreased in 2 years. I do not have any claims in the past 10 years and don't plan on any with a 2500 ded home owners and 1000 ded auto.
I did sell my soul and opted in to try their driving tracking mobile app (DriveSense). It brings the annual cost lower by $100 with the promise of that discount would increase after 6 months if the app reports that we are driving safely. They did tell me they track only three variables: (1) time of trip, (2) speeding over 80 miles/hour and (3) sudden braking. I am fearful of falling prey to the last one.

SimonJester
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Re: Home Owners Insurance - 40 percent increase

Post by SimonJester » Fri Apr 12, 2019 10:45 am

I am now keeping a spreadsheet and re quoting home and auto every year. Longevity in the insurance industry is not valued so I see no reason to stay with the same insurer every year. It takes me a few hours to go onto the web sites of each of the major insurers and request a close Apples to Apples quote. Whoever is cheaper gets a more finalized quote request...

Here is who I get quotes from: Geico, NationWide, All State, Progressive, Amica, Esurance, Liberty Mutual, American Family, State Farm, Ameriprise, Travelers, Farmers...

I start the process about a month before my policies expire...
"They who can give up essential liberty to obtain a little temporary safety, deserve neither liberty nor safety." - Benjamin Franklin

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dm200
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Re: Home Owners Insurance - 40 percent increase

Post by dm200 » Fri Apr 12, 2019 11:03 am

oaks wrote:
Thu Apr 11, 2019 4:38 pm
I just received my renewal for home owners insurance.
40% greater than last year. :oops:
I checked out Amica which is 25 percent less than this renewal.
I did have a claim in 2018 which Amica knows about so I believe there is more to the 40 percent than just trying to recoup the claim payout.
I did some more quotes and Geico, who my vehicle insurance is with, quoted 50 percent less than renewal using a company named Home Site.
I am comparing apples to apples for coverage and deductible.

Why such wild differences?

Usaa is around 2300
Amica is around 1700
Home Site via Geico is 1100


I am nervous that Home Site, whom I have never heard of is so low.
I had a claim, sure, but now it looks like they are trying to aggressively try to get the funds back by not being competitive on premium. Usaa handled the claim exceptionally well with no hassles or haggling. I suspect I can get that same level of service from Amica. Home Site may be a gamble.
What do you think fellow Bogleheads?
Yes - that is quite a difference! Are you sure the coverage is the same?

We have had State Farm Homeowners for 40+ years. Because we also have State Farm auto insurance, we seem to get a significant break for having both Homeowners and Auto from State Farm. For both coverages, I review the policies regularly and make changes that often reduce our premiums.

As with all insurance, cheapest/lowest cost may not be the best - you want a company that will handle the policy well and be good for claims.

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Nate79
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Re: Home Owners Insurance - 40 percent increase

Post by Nate79 » Fri Apr 12, 2019 4:24 pm

On top of checking prices yourself I would get an independant broker to shop around for you as well.

I have ZERO loyalty to insurance companies and would have very little issue to use any of them. All of them have problems. None of them are saints.

mariezzz
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Re: Home Owners Insurance - 40 percent increase

Post by mariezzz » Fri Apr 12, 2019 10:27 pm

There was recently another thread which didn't have good things to say about Homesite.
You really have to dissect your policy, line by line, to understand where the increase is coming from. If you can get the competitors to send you such a breakdown, you can compare what you're getting from them. However, I believe I tried at one point and was told the only way they'd provide that was if I paid for their policy. I could always cancel, but it's more involved if you have a mortgage.

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oaks
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Re: Home Owners Insurance - 40 percent increase

Post by oaks » Tue Apr 23, 2019 1:02 pm

Any more comments?

I hate paying more without getting more.

SimonJester
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Re: Home Owners Insurance - 40 percent increase

Post by SimonJester » Tue Apr 23, 2019 2:19 pm

Go get quotes form five or six more insurance companies, and include your autos. Choose the one with the best price... Be prepared to repeat this process every six to 12 months.
"They who can give up essential liberty to obtain a little temporary safety, deserve neither liberty nor safety." - Benjamin Franklin

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Nate79
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Re: Home Owners Insurance - 40 percent increase

Post by Nate79 » Tue Apr 23, 2019 2:27 pm

oaks wrote:
Tue Apr 23, 2019 1:02 pm
Any more comments?

I hate paying more without getting more.
Did you check with an independent agent to shop around for you?

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El Greco
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Re: Home Owners Insurance - 40 percent increase

Post by El Greco » Tue Apr 23, 2019 2:28 pm

Shop a few more name brand insurers. A couple of years ago, Liberty Mutual was killing me on premiums for home-auto-umbrella. I shopped new policies at Amica and The Hartford. Amica was 25% less. The Hartford was 35% less. Went with Hartford. Renewed again with Hartford and the cost actually went down a little bit. If, unlike Florida, you have access to several major name-brand insurers, shop a few more of them instead of settling for Homesite.

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Bogle7
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AMICA

Post by Bogle7 » Tue Apr 23, 2019 2:34 pm

We have AMICA. I have been a customer for 49 years.
In May 2017, we had a brutal hailstorm with damage of $32K to our house.
AMICA's service was excellent. Which I more than I can say for the restoration contractor who is still not finished with the work.

talzara
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Re: Home Owners Insurance - 40 percent increase

Post by talzara » Tue Apr 23, 2019 4:16 pm

SimonJester wrote:
Fri Apr 12, 2019 10:45 am
I am now keeping a spreadsheet and re quoting home and auto every year. Longevity in the insurance industry is not valued so I see no reason to stay with the same insurer every year. It takes me a few hours to go onto the web sites of each of the major insurers and request a close Apples to Apples quote. Whoever is cheaper gets a more finalized quote request...

Here is who I get quotes from: Geico, NationWide, All State, Progressive, Amica, Esurance, Liberty Mutual, American Family, State Farm, Ameriprise, Travelers, Farmers...
Homeowners insurance is not a standardized product.

Allstate offers a new customer discount, which is equivalent to a loyalty penalty. Allstate also practices price optimization, so you'll pay more if they think you're unlikely to switch companies.

State Farm offers a loyalty discount, so the rates go down if you stay with them. State Farm does not use price optimization, so there's no effect from staying with State Farm for a long time.

If you're shopping your policy every year, you're going to keep getting the new customer quotes. You're going to end up with a company that does not reward loyalty.

talzara
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Re: Home Owners Insurance - 40 percent increase

Post by talzara » Tue Apr 23, 2019 4:30 pm

sk.dolcevita wrote:
Thu Apr 11, 2019 6:03 pm
I did sell my soul and opted in to try their driving tracking mobile app (DriveSense). It brings the annual cost lower by $100 with the promise of that discount would increase after 6 months if the app reports that we are driving safely. They did tell me they track only three variables: (1) time of trip, (2) speeding over 80 miles/hour and (3) sudden braking. I am fearful of falling prey to the last one.
That's not true. Esurance DriveSense tracks over 20 different variables: https://www.esurance.com/legal/car/drivesense

Esurance filed its DriveSense program as trade secret, so we do not know how they actually use the data. However, most Usage Based Insurance (UBI) programs are actually verified-mileage programs in disguise. It's always advertised as a safety program, but the most important factor is mileage. The same company that gives low-mileage drivers a 10% discount on a traditional policy will give them a 30% discount on a UBI policy.

DriveSense may be different since it is installed on phones, so they can't count on an accurate record of mileage.

We don't know what Esurance means by "sudden braking," but it's probably not that sudden. Progressive Snapshot would beep every time you decelerated at 7 miles/hour per second. Some Progressive customers were complaining that it beeped every time they stopped at a red light. It's really a proxy for driving on local roads instead of the highway.

SimonJester
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Re: Home Owners Insurance - 40 percent increase

Post by SimonJester » Tue Apr 23, 2019 4:56 pm

talzara wrote:
Tue Apr 23, 2019 4:16 pm
If you're shopping your policy every year, you're going to keep getting the new customer quotes. You're going to end up with a company that does not reward loyalty.
Every year I also price out the renewal for my current insurance provider. I could care less if my insurance company does not reward loyalty. I care about how they handle claims, customer service and price. I take all of this into account when evaluating my choices.

Insurance rates in my state is regulated, X risk class with Y insurance options = Z price. The price difference between insurance companies is amazing easily a 3,000 difference per year. I keep the data in a spread sheet so I can look back over the years and see what that company quoted before..
"They who can give up essential liberty to obtain a little temporary safety, deserve neither liberty nor safety." - Benjamin Franklin

talzara
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Re: Home Owners Insurance - 40 percent increase

Post by talzara » Tue Apr 23, 2019 5:33 pm

SimonJester wrote:
Tue Apr 23, 2019 4:56 pm
Insurance rates in my state is regulated, X risk class with Y insurance options = Z price. The price difference between insurance companies is amazing easily a 3,000 difference per year. I keep the data in a spread sheet so I can look back over the years and see what that company quoted before..
Insurance is regulated in every state. Even the states that never deny a rate increase still require the insurance companies to follow a rate manual. The loyalty discount, loyalty penalty, and price optimization are all in the rate manual.

The point is that you're not discovering the true price at every company. State Farm is always quoting you the new customer price. This is not the price that State Farm customers actually pay, because they get the loyalty discount.

talzara
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Re: Home Owners Insurance - 40 percent increase

Post by talzara » Tue Apr 23, 2019 5:50 pm

oaks wrote:
Thu Apr 11, 2019 4:38 pm
I am comparing apples to apples for coverage and deductible.

Why such wild differences?

Usaa is around 2300
Amica is around 1700
Home Site via Geico is 1100
Usually you can expect the most expensive insurer to charge 200-500% of the cheapest insurer. USAA is charging 209% of Homesite, so you're still within the usual range.

There can be differences in the company's overall rate level. A company that is very stingy with payouts will be able to charge less. A company with a lower cost structure will also be able to charge less. A company that has very strict underwriting standards will also charge less.

There can also be differences in the actual policy, even if the limits and deductibles are the same. One policy might be an HO-5 policy, and another policy might be an HO-3. Since the policies are no longer standardized, there can also be many differences in coverage and exclusions. The ISO HO-3 policy is only 24 pages long, but some HO-3 policies are 50 pages long.

Then there are the individual factors. There are usually 20-50 different rate factors that get multiplied together to calculate a premium. There are usually 2-10 per-peril premiums that are added together to get the overall premium. This is a total of 40 to 500 steps, so it is very easy for companies to charge wildly different premiums.

talzara
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Re: Home Owners Insurance - 40 percent increase

Post by talzara » Tue Apr 23, 2019 6:07 pm

mariezzz wrote:
Fri Apr 12, 2019 10:27 pm
There was recently another thread which didn't have good things to say about Homesite.
Here's the thread about Homesite: viewtopic.php?t=277363
mariezzz wrote:
Fri Apr 12, 2019 10:27 pm
You really have to dissect your policy, line by line, to understand where the increase is coming from. If you can get the competitors to send you such a breakdown, you can compare what you're getting from them. However, I believe I tried at one point and was told the only way they'd provide that was if I paid for their policy. I could always cancel, but it's more involved if you have a mortgage.
That will not tell you where the increase is coming from. Insurance companies do not send you the full rate calculation, even if you are a policyholder.

Some companies do not provide an itemized breakdown, even for current customers.

Some companies provide an itemized breakdown by coverage. They'll show you that Coverage A is $500 and Coverage B is $150. However, they won't tell you how they calculated that $500. Unless you want to change the coverage, you can't really act on this information.

Some companies show an itemized breakdown of discounts. They don't tell you about all the other rate factors.

Quickfoot
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Re: Home Owners Insurance - 40 percent increase

Post by Quickfoot » Tue Apr 23, 2019 8:30 pm

I had the same thing happen with renter's insurance a couple years ago, there was no geographic events that would support an increase. I think in some cases it's the insurance company wanting you to discontinue your policy.

k3vb0t
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Re: Home Owners Insurance - 40 percent increase

Post by k3vb0t » Tue Apr 23, 2019 9:22 pm

Same thing just happened to me after switching last year to a new company... which I switched to because the company we had for 5 years kept raising rates.

We went Farmers —> Geico (Stillwater) —> looking now for something new.

As others have noted:
1. Quote identical policies (in terms of coverage)
2. Quote with and without auto insurance bundled

I just did this all past weekend (still have some companies to quote) and discovered through Progressive, even without homeowners, I could lower my auto rates by $192/6 months. If I bundled homeowners I’d save an extra $35/6 months. Unfortunately their homeowners wasn’t competitive ... but they’ll most likely get my auto business. Also think the bundling discount isn’t all that impressive.

My lowest quote right now is Nationwide, and the rate is about $70 less than what I had this past year. My current company wants to bump my dwelling coverage up 6% but charge me 19% more. (The quote breaks it down by which coverage and what cost for it.) Great business for them.

I quoted Amica (more expensive than my higher renewal), Progressive (quoted Homesite and Nationwide and one other) and Nationwide directly. I’ll check out some of the others this weekend and make a decision.

Re: State Farm - interesting business idea to charge more than your competitors to become a customer of theirs. What good is your 30 year loyalty discount if I have no incentive to get year 1 coverage with you?

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FIREchief
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Re: Home Owners Insurance - 40 percent increase

Post by FIREchief » Tue Apr 23, 2019 11:05 pm

oaks wrote:
Thu Apr 11, 2019 4:38 pm
I just received my renewal for home owners insurance.
40% greater than last year. :oops:

I did have a claim in 2018 which Amica knows about so I believe there is more to the 40 percent than just trying to recoup the claim payout.
Would you mind sharing the nature of this claim?
I am not a lawyer, accountant or financial advisor. Any advice or suggestions that I may provide shall be considered for entertainment purposes only.

drawpoker
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Re: Home Owners Insurance - 40 percent increase

Post by drawpoker » Tue Apr 23, 2019 11:21 pm

talzara wrote:
Tue Apr 23, 2019 4:16 pm
............State Farm offers a loyalty discount, so the rates go down if you stay with them. State Farm does not use price optimization, so there's no effect from staying with State Farm for a long time....
Absolutely, totally, completely un-true. Really, really, false information.

Snake Farm is notorious for price optimization tactics with their longtime customers - they just don't use that term - use an euphemism instead. And I am not pulling this out of thin air - straight from my own (former) local SF agent.

As the OP wlll learn as he ages and goes thru these insurance hassles - certain companies get a name for themselves by their shady/unethical practices. Not just SnakeFarm.

Ex: Hartford is well-known for luring in sr. citizens with low-ball quotes because of their tie-in with AARP. (A name you can trust! ha ha) After a couple of years, they stick it to them (30% - 40-% hikes)
Allstate is known for gouging people due to their practice of arbitrary (hugely inflated) per sq. ft. dwelling replacement cost.

DrGoogle2017
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Re: Home Owners Insurance - 40 percent increase

Post by DrGoogle2017 » Tue Apr 23, 2019 11:53 pm

I’m in California, insurance went up about 10-15%. I think it’s the fire this year.

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baconavocado
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Re: Home Owners Insurance - 40 percent increase

Post by baconavocado » Wed Apr 24, 2019 12:11 am

DrGoogle2017 wrote:
Tue Apr 23, 2019 11:53 pm
I’m in California, insurance went up about 10-15%. I think it’s the fire this year.
Me too. Mine went up 12% this year.

talzara
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Re: Home Owners Insurance - 40 percent increase

Post by talzara » Wed Apr 24, 2019 1:20 pm

k3vb0t wrote:
Tue Apr 23, 2019 9:22 pm
Re: State Farm - interesting business idea to charge more than your competitors to become a customer of theirs. What good is your 30 year loyalty discount if I have no incentive to get year 1 coverage with you?
State Farm doesn't want customers who hop around. Offering a loyalty discount makes it harder to pick up new customers, but it makes it easier to keep existing customers.

State Farm also doesn't want customers who only buy one policy. This is why they have a 35% bundling discount on homeowners insurance in some states. Other companies usually offer 10%. State Farm wants all of your business or none of it.

They're simply playing a different game than the other companies. GEICO, Progressive, and USAA have almost doubled their auto insurance market share in the last 15 years, but they're not taking share from State Farm. They're taking share from the other companies. State Farm has managed to hold on to its market share.

k3vb0t
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Re: Home Owners Insurance - 40 percent increase

Post by k3vb0t » Wed Apr 24, 2019 1:31 pm

talzara wrote:
Wed Apr 24, 2019 1:20 pm
State Farm doesn't want customers who hop around. Offering a loyalty discount makes it harder to pick up new customers, but it makes it easier to keep existing customers.

State Farm also doesn't want customers who only buy one policy. This is why they have a 35% bundling discount on homeowners insurance in some states. Other companies usually offer 10%. State Farm wants all of your business or none of it.

They're simply playing a different game than the other companies. GEICO, Progressive, and USAA have almost doubled their auto insurance market share in the last 15 years, but they're not taking share from State Farm. They're taking share from the other companies. State Farm has managed to hold on to its market share.
I get that. But if you generate fewer new customers and your old customers die/eventually leave you, what then? Maybe it’s having really good local agents that can sell policies?

I’ve quoted SF multiple times over the years with bundling multiple policies. Every time it has been significantly higher than everyone else.

I’d gladly sign a long term multi year contract with them where they can prove to me they are lower cost in the long run. Until that point I can’t fathom willingly paying multiple hundreds of dollars more for the same level of coverage every year for the future unknown promise of loyalty discounts.

fru-gal
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Re: Home Owners Insurance - 40 percent increase

Post by fru-gal » Wed Apr 24, 2019 1:50 pm

oaks wrote:
Thu Apr 11, 2019 4:38 pm

Usaa is around 2300
Amica is around 1700
Home Site via Geico is 1100
You may know this, but you can get two quotes from AMICA. The difference is if you are a member the initial premium is higher but the dividend later more than makes up for it.

AMICA has a multi-policy discount. They also have some itty bitty discounts, like I think I got $40 for having an auto on off generator.

AMICA has always been super to me, but years ago I had State Farm, and it was a nightmare getting a claim for flooding paid. I think the state sued them because they were screwing over customers on claims.

SocalLiving
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Re: Home Owners Insurance - 40 percent increase

Post by SocalLiving » Wed Apr 24, 2019 2:13 pm

DrGoogle2017 wrote:
Tue Apr 23, 2019 11:53 pm
I’m in California, insurance went up about 10-15%. I think it’s the fire this year.
+1. Ours went up 15% this year too.

talzara
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Re: Home Owners Insurance - 40 percent increase

Post by talzara » Wed Apr 24, 2019 2:22 pm

k3vb0t wrote:
Wed Apr 24, 2019 1:31 pm
I get that. But if you generate fewer new customers and your old customers die/eventually leave you, what then? Maybe it’s having really good local agents that can sell policies?
That's right. State Farm is a high-cost, high-touch company. It's positioned at the opposite end of the spectrum from GEICO, a low-cost, low-touch company.

The State Farm agent is passing out business cards at the local church. The gecko isn't.
k3vb0t wrote:
Wed Apr 24, 2019 1:31 pm
I’ve quoted SF multiple times over the years with bundling multiple policies. Every time it has been significantly higher than everyone else.
Not every company is going to be competitive for every customer.

One company offers a particular discount, and another company doesn't. One company selects the actuarially-correct curve for a rate factor, and another company flattens it out. There are many ways that the rates can be different.

SimonJester
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Re: Home Owners Insurance - 40 percent increase

Post by SimonJester » Wed Apr 24, 2019 4:06 pm

talzara wrote:
Wed Apr 24, 2019 2:22 pm
k3vb0t wrote:
Wed Apr 24, 2019 1:31 pm
I get that. But if you generate fewer new customers and your old customers die/eventually leave you, what then? Maybe it’s having really good local agents that can sell policies?
That's right. State Farm is a high-cost, high-touch company. It's positioned at the opposite end of the spectrum from GEICO, a low-cost, low-touch company.

The State Farm agent is passing out business cards at the local church. The gecko isn't.
k3vb0t wrote:
Wed Apr 24, 2019 1:31 pm
I’ve quoted SF multiple times over the years with bundling multiple policies. Every time it has been significantly higher than everyone else.
Not every company is going to be competitive for every customer.

One company offers a particular discount, and another company doesn't. One company selects the actuarially-correct curve for a rate factor, and another company flattens it out. There are many ways that the rates can be different.
Out of 12 insurance carriers SF was the cheapest for my insurance situation this year. And yes I was comparing apples to apples. Past years they were higher. Amica raised my rates 16% this year which put them 20% higher then SF. Geico, Esurance, &Travelers were the highest this year...

One big chance this year, none of the 12 carriers I quoted would quote / issue 12 month auto policies anymore. 6 months only now...
If in 6 months SF raises my rates significantly, I will go out and re-quote again and switch...
"They who can give up essential liberty to obtain a little temporary safety, deserve neither liberty nor safety." - Benjamin Franklin

Broken Man 1999
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Re: Home Owners Insurance - 40 percent increase

Post by Broken Man 1999 » Thu Apr 25, 2019 4:28 pm

I was dreading my homeowner's renewal in August, but my insurance lady called me yesterday and told me she had received a no-renew as the company was reducing their base in Florida. She said not to worry, as lots of companies were not renewing policies.

I'm pretty sure it will be more expensive no matter what policy she finds. I expect homeowner's coverage will be high across the nation given the hurricanes and fires.

Broken Man 1999
“If I cannot drink Bourbon and smoke cigars in Heaven than I shall not go. " -Mark Twain

SittingOnTheFence
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Re: Home Owners Insurance - 40 percent increase

Post by SittingOnTheFence » Thu Apr 25, 2019 4:45 pm

dm200 wrote:
Fri Apr 12, 2019 11:03 am
We have had State Farm Homeowners for 40+ years. Because we also have State Farm auto insurance, we seem to get a significant break for having both Homeowners and Auto from State Farm. For both coverages, I review the policies regularly and make changes that often reduce our premiums.

As with all insurance, cheapest/lowest cost may not be the best - you want a company that will handle the policy well and be good for claims.
+1

Interesting thread. I've been w/ State Farm for 45+ yrs and last year I started looking for a better deal. I could not find anyone close to their price. I've been a AAA member for 40+ yrs so asked them why they could not beat the S.F. price. They told me S.F. honors longevity.

They insure 3 vehicles (previously 4), a 5th wheel trailer, and my home.

My agent has changed 3x over the years as others retired. So far I'm happy with their service.

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